Press Release

Morgan Lewis Advises VTB Bank on Two Eurobond Offerings

October 31, 2013

LONDON, October 31, 2013: VTB Bank, a Russian bank, closed on October 24 a $32.5 million offering of Floating Rate Loan Participation Notes due April 2015 (USD Notes), and on October 29 closed a CZK 600 million offering of Floating Rate Loan Participation Notes due October 2016 (CZK Notes).

The USD Notes were issued by VTB Capital S.A., a Luxembourg special purpose vehicle, for the purpose of funding a $32.5 million loan to VTB. The CZK Notes were issued by VTB Eurasia Limited, an Irish special purpose vehicle, for the purpose of funding a CZK 600 million loan to VTB. The CZK Notes are listed on the Irish Stock Exchange.

The proceeds of both offerings will be used by VTB for general corporate purposes. The CZK offering is VTB's first ever Eurobond offering denominated in Czech koruna.

The sole lead manager of the offering of USD Notes was Crédit Agricole CIB. The sole lead manager of the offering of CZK Notes was Société Générale. Both offerings were made pursuant to Regulation S.

Morgan Lewis served as English legal adviser to VTB on the offerings. The Morgan Lewis team was led by Business and Finance partner Carter Brod, who was joined by Business and Finance partner, Bruce Johnston and Business and Finance associates, Elizabeth Dennison and Thomas Webb.